Buying Continuation - Kaitsunagi

Japanese: 買いつなぎ - かいつなぎ

…If the price rises during this time, the futures contract will result in a loss, but this will be offset by the profit from the rise in the spot price. This is called "short selling," but there is also the opposite, "short buying." For example, if a processor receives a purchase order and the price of the raw material suddenly rises at the time of production, the processor may not be able to receive the processing fee, but the cost of the raw materials may eat into the loss. …

From the Exchange

… Selling fatigue/Buying fatigue When you sell as much as you can, the market is not going as you want, and you no longer have the strength to sell, it is called “selling fatigue.” Conversely, when you buy as much as you can, the market is not rising, and you no longer have the strength to buy, it is called “buying fatigue.” Continuing selling/Continuing buyingWhen you sell short on stocks in margin trading to prevent losses due to price drops, it is called “continuing selling” (or “continuing selling”). In general, when you do not have stocks on hand due to a name change or other reason, and the stocks are likely to fall in price in the future, you sell them short on margin to prevent losses due to price drops, and then buy them back at the reduced price to make a profit, or settle by “delivery in the flesh” when the stock certificates are returned to you. On the other hand, “continuing buying” (or “continuing buying”) means that when you do not have funds on hand and the stock price is likely to rise in the future, you buy the stocks in advance in margin trading, and settle by “delivery in the flesh” when you have funds. …

*Some of the terminology used in this article refers to "continuous purchases."

Source | Heibonsha World Encyclopedia 2nd Edition | Information

Japanese:

…この間に値上がりすれば先物では損になるが，その分は現物の値上がり益で相殺されるわけである。これが〈売りつなぎ〉だが，逆に〈買いつなぎ〉もある。たとえば加工業者が買い注文を受けて，製品を生産する時点に原料である商品が暴騰していたら加工賃が出るどころか原料代に食われて大損になりかねない。…

【取引所】より

…　売疲れ･買疲れ売るだけ売って，相場も思うようにいかず売る力もなくなった状態を〈売疲れ〉といい，反対に買うだけ買って，相場が上がらず買う力もなくなった状態を〈買疲れ〉という。　売りつなぎ･買いつなぎ値下がりによる損失を防ぐため，その株式を信用取引で空売りすることを〈売りつなぎ〉(あるいは〈つなぎ売り〉)といい，一般に手持株が名義書換えその他で手もとになく，先行きその株が値下がりしそうなときに，値下がり損を防ぐために信用取引で空売りし，値下がりしたところを買い戻して差益を取るか，または株券が手もとに戻ったときに〈現渡し〉して決済することである。一方，〈買いつなぎ〉(あるいは〈つなぎ買い〉)は，手もとに資金がなく，先行き株価が値上がりしそうなときに，あらかじめ信用取引でその株を買い，資金ができたところで〈現引き〉して決済することをいう。…

※「買いつなぎ」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典第２版について | 情報

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